Bank of America profit misses estimates as revenue falls

Through Rick Rothacker and Tanya Agrawal (Reuters) – Bank of The usa Corp posted a smaller-than-expected elevate in quarterly profit on Wednesday as revenue in most of its businesses dropped, and the financial institution entered a brand new criminal settlement linked to loan bonds. The implications underscore how Financial institution of The united states's purchase of Country wide Financial on the peak of the housing crisis continues to be haunting the financial institution, and how even when the bank moves past its personal loan settlements, it faces a troublesome business setting. Financial institution of America shares had been down 5.6 p.c to $eleven. …